How to Sell Without Becoming Homeless
Here are three ways to sell your home and buy another with certainty.
I have some helpful advice to share today that will help you sell your current home and buy a new one without the fear of becoming homeless.
The best option when you need to buy and sell simultaneously is qualifying for the next home purchase without selling. Reach out to your lender and ask them, “Can I qualify to purchase a home without it being contingent on the sale of my existing home?” If their answer is yes, you have maximum flexibility as both a buyer and seller.
"Rent-backs can last up to 60 days."
If this option isn’t feasible, don’t worry. The next best option is to set up coinciding settlements. This means that your home purchase and sale will take place very close together, ideally on the same day.
The third option is what we call a seller rent-back. This allows you to rent your existing home back from a buyer while you’re waiting to close on the purchase of your new home. You may want to let buyers know that you’ll need this upfront so they know to include it in their offers. Rent-backs can last for as long as 60 days.
I hope these tips have helped. If you have any questions for me about buying, selling, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.